Picking the right motorcycle is a feat of love. More often than not, if everything else is equal, you will pick the one that you like the most. And in a way, picking the right kind of motorcycle insurance is vital, even if it isn’t as heady an experience. Your motorcycle needs to fit your lifestyle and requirements and so does your motorcycle insurance. Mind you, it shouldn’t cost the earth. Minimum coverage is one thing; it’s the add-ons that no one wants to take since it isn’t really everyone’s cup of tea (or coffee, if that’s what gets you going). Talk to your agent or your representative and see what you need, you might have a better idea then.
Until such time, these are the options that you have at your disposal.
This liability insurance covers injury to yourself, to other people or to property that could be damaged as a result of your being involved in a motorcycle accident. It doesn’t cover the motorcycle itself, so you need to find out if the liability extends to guest passengers as well, since it would be important to cover them as a part of the policy. This is all done dependent on the laws of the state you are in and of course the company that issues the policy.
This covers the motorcycle for damages caused to it in an accident, and this is what most people might want if their bike is an expensive one. The insurance company pays for damages that have occurred when you collided with someone or something. Their payout is done minus the amount of your deductible and it normally covers the book value of the motorcycle.
If your motorcycle is damaged by anything other than theft, fire or vandalism, this will cover it. Again, the payout will be made minus your deductible and they will pay only the book value of the bike. So only standard factory parts are covered in collision and comprehensive coverage, not any add-ons you might have made. No custom jobs are covered by insurance companies. If that’s what you want, you will have to pay extra.
Uninsured/underinsured motorist coverage
This coverage is offered for damages to you or to your property caused by a motorcyclist who is uninsured or underinsured. It will cover your damages quite easily. Typically, it will cover your medical treatment, wages that have been lost and any other damages. Talk to your insurance company and see if damage to property is a part of the policy or not.